U.S. energy department takes stake in Vancouver mining company

vancouver.citynews.ca

The U.S. Department of Energy has acquired a five percent stake in Lithium Americas in exchange for debt deferment on a significant loan. This agreement allows Lithium Americas to access the first portion of a $2.26 billion loan for its Nevada lithium carbonate project, with $182 million in debt service deferred for five years. The project, a joint venture with General Motors, aims to produce lithium for batteries and grid storage, meeting growing demand for the critical mineral.


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